There's going to be a transition away from fossil fuels towards renewables but the supply tension that we're seeing is thin. The industry has been systematically under investing in new supply partly because oil prices didn't merit it with oil prices for the better part of the last 7 years were pretty mediocre or worse. And then also some of it is quite honestly coming from institutional investors which told the industry repeatedly that they would much rather see them focus on returning cash to shareholders and less about producing more barrels.
Bloomberg News Legal Reporter Jef Feeley explains why Elon Musk is reviving his original deal to buy Twitter at the price of $54.20 a share. Bloomberg Balance of Power Anchor David Westin discusses Micron's plan for a $100 billion for semiconductor factory in New York. Bloomberg Businessweek Editor Joel Weber and Bloomberg News U.S. Health Care Reporter Riley Griffin provide the details of Riley's Businessweek Magazine story Pfizer Needs to Prove That It’s Ready to Move On From Covid-19. Stewart Glickman, Head of Energy Research at CFRA, talks about investing in energy firms in this inflationary environment. And we Drive to the Close with Sylvia Jablonski, CEO at Defiance ETFs.
Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.
See omnystudio.com/listener for privacy information.